Musk sells nearly $4 billion worth of Tesla shares as he pushes for ways to pay for the massive $44B Twitter acquisition deal
Tesla chief Elon Musk has sold nearly $4 billion worth of shares in the electric car company more than a week after he closed his $44 billion acquisition of Twitter.
Musk took control of Twitter and fired its top executives in late October, after a drawn-out back-and-forth between the world’s richest person and the influential social media company. After Musk sought to terminate the sale, Twitter filed a lawsuit to hold the entrepreneur to the agreement. With a trial looming, he revived his takeover plan.On Friday, Twitter sacked half of its 7,500-strong staff as its new owner launched an overhaul of the company.
The move would help overcome a potential loss of advertisers, Twitter’s main source of revenue, after many top brands put their ad buys on hold, uneasy about Musk’s well-known disdain for content controls.
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